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HolidayBuyer's Guide
Tech Industry

MARKET CLOSE: Techs come back

Techs gained along with the rest of the market as the third quarter ended.

"It's the last day of the quarter. Need I say anything more? People are going to try to enhance their positions -- window dressing," said Arnie Owen, managing director of capital markets at Cruttenden Roth in Newport Beach, Calif.

The tech-heavy Nasdaq Composite Index rose 15.89 to 2746.16, the S&P 500 gained 14.34 to 1282.71, and the Dow Jones Industrial Average moved up 123.47 to 10336.95.

Among stocks in the news, Radware (Nasdaq: RDWR) increased 9 1/2 to 27 1/2 making solid gains in its IPO; shares were up 15 to 33, or 83 percent.

Shares of USinternetworking (Nasdaq: USIX) rose 3 to 31 1/4 Thursday after bullish ratings boosted shares.

Sprint is also jumping in on the ASP action. It will announce tomorrow that it is the latest entrant into the booming business of serving up applications as needed from Web servers, joining everyone from AT&T to Intel in the fray. Sprint (NYSWE: FON) sank 1 1/4 to 54 1/4, Bell Atlantic (NYSE: BEL) rose 1 1/2 to 67 5/16 and AT&T Corp. (NYSE: T) was unchanged at 43 1/2.

Internet software company BroadVision Inc. (Nasdaq: BVSN), up 11 1/8 to 133 1/16, said Thursday its board had approved a three-for-one stock split.

Meanwhile, CMGI has reeled in another Internet catch with Flycast Communications Corp. (Nasdaq: FCST). Flycast was up 7 1/2 to 45 1/2 and CMGi Inc. (Nasdaq: CMGI) advanced 2 3/16 to 102 1/2.

Higher interest rates will put a crimp in E-Loan's (Nasdaq: EELN) third quarter results. Shares were down 2 9/16 to 21 9/16.

Diversinet Corp. (Nasdaq: DVNT) went up 2 to 10 3/16. The provider of technology for secure wireless transactions agreed to buy operating assets of Ubiq Communications Inc. for $1 million in stock.

Great Plains Software Inc. (GPSI), which makes enterprise resource planning software for mid-size firms, rose 4 3/4 to 51 1/2. The company will replace Capital Re Corp. in the Standard & Poor's SmallCap 600 Index.

Qwest Communications International Inc. (Nasdaq: QWST) increased 1 3/16 to 29 9/16. E*Offering analyst Christine Nairne upgraded Qwest to "strong buy" from a "buy" rating.

Teleglobe Inc. (NYSE: TGO) retreated 1 5/8 to 15 7/16. The owner of the world's third- biggest long-distance network warned third quarter earnings will miss estimates by as much as 8 cents per share.>